George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
USPAP allows for the partial, but the intended use of the appraisal and the requirements the user needs to meet are also a significant factor. An additional factor above and beyond the theoretical minimums allowed under USPAP.
AFAICT in this case those additional requirements elevate the minimums for the assignment beyond the "can appraise a component" minimums in USPAP. When the lender makes a loan on the property they are also encumbering these attached components. When the property gets sold in that hypothetical transaction on that effective date it comes with these additional components. Everyone in the transaction expects this, and it is those expectations that we are attempting to emulate in an MV appraisal. We are not attempting to emulate "what the lender will accept" to the exclusion of what the informed buyer/seller is doing..
AFAICT in this case those additional requirements elevate the minimums for the assignment beyond the "can appraise a component" minimums in USPAP. When the lender makes a loan on the property they are also encumbering these attached components. When the property gets sold in that hypothetical transaction on that effective date it comes with these additional components. Everyone in the transaction expects this, and it is those expectations that we are attempting to emulate in an MV appraisal. We are not attempting to emulate "what the lender will accept" to the exclusion of what the informed buyer/seller is doing..